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Live Oak Bank Announces Alliance with Whitman Business Advisors

WILMINGTON, N.C., Aug. 07, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank is pleased to announce an alliance with Whitman Business Advisors designed to help accounting and tax firm owners simplify the process of buying or selling a firm. With the steady growth of ownership transfers in the accounting industry, the collaboration allows Whitman to guide the merger and acquisition process and Live Oak to offer expert financing for the deal.

“With the market primed for additional firm transitions, we believe that a concentrated focus on tools, market access and financing will help owners more effectively facilitate these transitions,” said Shannon Hay, industry expert for the accounting and tax lending team at Live Oak Bank. “Aligning with Whitman Business Advisors in a collaborative effort makes it easier for firms to navigate the complicated M&A process and lets us tailor financial solutions to meet their needs.”

The collaborative alliance between Live Oak and Whitman’s experienced teams provides M&A services such as identifying candidates, working through due diligence, development of post-sale integration and SBA-structured financing.

“Working with trusted partners to empower accounting firm partners and owners in completing a successful M&A transaction is our primary concern,” said Philip Whitman, President and CEO of Whitman Business Advisors, based in Morganville, NJ. “Since having access to both sound advice and capital is paramount, we are pleased to align our efforts with Live Oak Bank to make it easy for CPA firms to work with us based on their specific needs.”

About Live Oak BankLive Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak brings efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. To learn more, visit www.liveoakbank.com.

About Whitman Business AdvisorsWhitman Business Advisors is a national consultancy serving CPAs and CPA firms exclusively. Its Six Pack Plus of services includes: mergers and acquisitions, talent acquisition, partner retreats, training and coaching, lead generation, marketing, and practice management consultation. For a 30 second video about our services click here.